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Bitcoin halving has only attributed a 6 to 12% decline in number of BTC mined.......its not a true halving as sorts so wont be a definitive 50% drop in mining revenue or number of BTC mined as SOME people on here have stated !!! its NOT a true halving so to speak ...DYOR and make your own minds up / research instead of listening to the few TWODDLERS on here who keep spouting doom & gloom. !!!! see you all the other side of 150k BTC , coming soon to a miner near you. over and out.....GLA.
I'm optimist but I don't think that's true when you talk about the amount of BTC, the average BTC returned since halving is 4.335397481 per block and that includes transaction fees and also the large jump in transaction fees just after halving,
Before Halving the reward itself was 6.25BTC per block (without looking at transaction fees), so there is more than a 12% drop in reward returned compared to pre-halving.
3.125 BTC is the reward and at the moment the average btc reward since halving is 4.335397481 so it isn't the full 50% that some people were saying but over time on the current trends I'd expect this average to drop as the transaction fees become less. To be optimistic there could in the future be new protocols released on BTC chain that bring the transaction fees up, we'll just wait and see.
It’s nonsense, for a couple of days following the halving the number of coins minted barely changed but from about the 25th April that shifted to a straight halving.
The latest difficulty adjustment downwards will boost production numbers slightly but we’re still talking close to 50% of what was being mined in mid April.
I don't think you can say there's no impact but also you can't say the full 50% drop in revenue for ARB, it's just a waiting game to look at the next couple of months figures, the bitcoin difficulty adjustment is going to take place in under an hour so will be interesting what that sets to.
Micoley as things stand we are actually talking a full 50% drop in revenue - Corz has been a very useful barometer and they've dropped from an average of 30BTC mined per day to about 14.2BTC over the past week.
As things stand with BTC back at $60k Argo will post ~$3.5m revs in May which is exactly 50% of the last full month before halving ($7m revs March)
We'll wait and see from the next few updates where we are, you're making far too many assumptions, all you can give is an estimate yet you talk like they're fact.
Yes micoley your right ! lets see what the next updates bring...there are too many legend's in their own lunchboxes on here who know every thing about every thing.. lol...
Difficulty adjusted down by 5.6%....
Yeah I accounted for that as you'll see in my post.
Even with that difficulty adjustment downwards it remains higher than it was on average through March plus BTC is slightly lower through May so far than it was in March - March saw btc ATHs don't forget.
My $3.5m figure wasn't plucked out of thin air albeit there's still all of May to go for the BTC price to rise.
Yeah I accounted for that as you'll see in my post.
Even with that difficulty adjustment downwards it remains higher than it was on average through March plus BTC is slightly lower through May so far than it was in March - March saw btc ATHs don't forget.
My $3.5m figure wasn't plucked out of thin air albeit there's still all of May to go for the BTC price to rise.
***logged in on too many old laptops and phones haha
Fees are .1 to .2 just now, you can see it with your own eyes. If Runes pick up again then it changes and we see large fees, but for now you're looking at a 45%ish drop in revenue (in BTC terms - obviously BTC price jumps all over the place).
Fees column here:
https://explorer.btc.com/btc/blocks
Yeah as things stand we are likely to see revenue for Argo halve since the last full month pre halving - $7m to $3.5m. Coins mined equivalent will be more like 45% down but the lower BTC price since those ATHs of March cancel that out.
Since March you have fees up, difficulty up, BTC down
Shots fired for whoever scheduled their earnings date second out of Mara and Clsk. Bit awkward when there can only so many analysts covering the sector to go round. (Bet it was Clsk.)
Mara's results will eclipse CLSK's due to FASB giving them around $2 EPS. Makes sense for them to release pre-market based on this and looking bad vs MARA, however certainly wasn't expecting it and they should have given warning as their news item had said "Results will be released after the close of regular trading on May 9, 2024."
It seems that IREN is becoming the new CLSK and getting a lot of attention.
Yeah strange, Nasdaq site and everyone else reported earnings release as after market close too. Maybe the Mara clash was accidental after all, so they brought it forward to avoid. Either way good for sector it and Corz results pretty well received. Just need to Mara to avoid dropping any banana skins now.
I'm holding Mara just now and figure the 1.5 bil atm from last time is enough for now. Let's hope they don't up the limit and perhaps release some investor friendly news instead.
Hope so, it is promising they've used those magic words 'fully funded'. You'd think $1.5bn would be enough surely, but to be honest I thought they'd be done with the ATMs before they started the $1.5bn 🥴
Thats the best bit........
As of May 3, 2024, the number of outstanding shares of the registrant’s common stock, par value $0.0001 per share, was 272,956,165.
Had a quick glance, looks like a stinker. Serves me right should know better. Will probably dump them on open (again).
Must admit I've lost track now where Mara are with these ATMs. Shares outstanding only up a tad this quarter, was expecting a massive increase. Good news in a way, mcap lower than everyone thought.
But why kill sentiment with the shelf offering announcement in the first place, then not touch it? Double edge sword, if share count had increased massively that's never great, but at same time at least ATM plaster would be ripped off. As things stand having shelf filing sat there still bit of an overhang.
Pre-market up a little - don't think I'll ever understand miner pricing.
Fully out of Mara now, can sleep easier again.
@CB - Currently looks to be good timing - I did the same.
Was not impressed with their (mara) BTC production (Qtr>Qtr) and their operational Hash (Qtr>Qtr). have they bit off more than they can chew..? looking forward to wulf results next week.
Market absolutely hates Mara this year, can't blame anyone for ditching it. Btc production wise we didn't learn anything new to be fair, monthly reports had that covered and everyone can see their pool in real time. Drop must be a combination of B.riley cutting their rating this morning, btc price and ATM uncertainties.
Mara management could learn a quite a bit by following Corz imo. There management buying shares, not constantly issuing new shares (except when warrants price target hit but that clearly signalled and long way off), and mining far more consistently - despite challenge of running hardware that's older overall.